Alpha Energy Holdings Limited (“Alpha”) announced that it has entered into a conditional sale and purchase agreement with Kydon Holdings Pte Ltd (”Kydon Holdings”) for the acquisition of Kydon Learning Systems Institute Group (“KLSI Group”) in a cash and stock deal (“Proposed Acquisition”). The Proposed Acquisition is facilitated by Didi Investments, Inc, a Japanese investment firm.
The Proposed Acquisition of KLSI Group, which comprises Kydon Learning Systems Institute Pte Ltd, Kydon Learning Systems Sdn Bhd, MQ Spectrum Pte Ltd and MQ Spectrum India Pvt Ltd, is part of Alpha’s diversification into the learning and education business.
KLSI Group is one of the region’s leading learning technology companies that offers a wide suite of innovative services – from custom-building e-learning platform solutions, design and developing interactive digital learning content and third-party systems for learning management systems integration.
The Proposed Acquisition is slated for completion in August 2020. Kydon Holdings’ CEO, Mr David Yeo is expected to oversee and spearhead the management of KLSI Group under the purview of Alpha’s Board and senior management.
The Proposed Acquisition will enable KLSI Group to strengthen its technology base and product offerings in the Learning and Education industry as well as access financial resources to accelerate the growth and expansion of its business globally. It will also enable Alpha to pursue strategic mergers and acquisitions with synergistic technologies and markets for its portfolio of businesses.
Kydon Group comprising Kydon Holdings, ZilLearn and LEARNTech Asia will continue to lead and invest in learning transformation R&D and growth initiative efforts. Following the completion of the Proposed Acquisition, Kydon Holdings will enter into a business partnership agreement with Alpha in the common global EdTech growth space.
“This acquisition and partnership will not only bring new opportunities of business growth and value to our shareholders but also real substantive and innovative transformation to the world of learning and education that’s enabled by technology.” said Mr David Yeo, CEO of Kydon Holdings.
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